The gamification in education market is projected to grow from $450 million last year to $1,800 million by 2023, equivalent to a Compound Annual Growth rate of 32.0%.
A new report from MarketsandMarkets says major factors driving the growth of the gamification in education market are the increasing adoption of digital learning and growing cloud adoption among organisations to motivate learners to adopt web-based gamification solutions.
Among deployment modes, the cloud segment is projected to lead the market with respect to market size in 2018.
The major factor attributing to the growth of this segment is the benefits offered such as enhanced security, low setup cost, easy accessibility, quicker deployment, high scalability, customizability, enhanced storage space, ease of maintenance, automatic upgrade of course materials, and automatic licensing by vendors.
Among end users, the corporate training segment is projected to grow at a higher CAGR than the academic segment during the forecast period.
The growth of this segment can be attributed to the increasing traction of gamification among corporates that are implementing gamification practices for employees to improve their job qualifications by showcasing their technical expertise.
The North American region is expected to lead the gamification in education market with respect to market size in 2018, due to the presence of a large number of prominent educational institutes and their focus on interactive ways for education, which is leading to the growth of the market in the region.
APAC is leading the market with respect to CAGR among all regions. The market is further growing due to the rapid adoption of learning solutions and gamification by early adopters in the APAC.
A growing number of students and government policies that have made it compulsory for organizations to develop skillsets among their employees can be attributed to the rapid growth of the gamification in education market in APAC.
Key industry players highlighted by the report include Bunchball (US), NIIT (India), MPS Interactive (India), Microsoft (US), D2L (Canada), Top Hat (Canada), Classcraft Studios (Canada), Recurrence (US), Fundamentor (India), Cognizant (US), BLUErabbit (Mexico), Google (Grasshopper) (US), Kahoot (Norway), CK-12 (US) and Kuato Studios (US).